Coronavirus News
Executive order delays workers’ payroll tax payments
President Trump signed an Executive Order on August 8, 2020, directing the Treasury Department to issue guidance for deferring the withholding, deposit, and payment of the employee portion of the 6.2% Social Security tax and 1.45% Medicare tax for certain employees.
The deferral will apply to the period from September 1, 2020 through December 31, 2020. Dugan & Lopatka is reviewing the impacts of the executive order and awaiting additional guidance from the Treasury Department and will provide more information when it becomes available.